Prospect Capital (NASDAQ:PSEC) Stock: Insider John Barry Acquires 1,410,633 Shares

Prospect Capital Corporation (NASDAQ:PSEC) CEO John Barry bought 1,410,633 shares of the firm’s stock in a transaction that occurred on Tuesday, November 10th. The stock was purchased at an average cost of $1.51 per share, with a total value of $2,130,055.83. Following the completion of the transaction, the chief executive officer owned 95,808,672 shares in the company, valued at approximately $144,671,094.72. This trade represents a 1.49% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Prospect Capital Stock Performance

Shares of Prospect Capital stock traded up $0.06 during trading on Friday, reaching $1.46. The company’s stock had a trading volume of 6,242,784 shares, compared to its average volume of 7,818,376. The company has a 50-day moving average price of $1.81 and a two-hundred day moving average price of $2.30. The firm has a market cap of $813.21 million, a PE ratio of -9.73 and a beta of 0.84. Prospect Capital Corporation has a fifty-two week low of $1.29 and a fifty-two week high of $3.12. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.53.

Prospect Capital (NASDAQ:PSEC) last released its quarterly earnings results on Wednesday, November 4th. The financial services provider reported $0.15 EPS for the quarter, beating the consensus estimate of $0.10 by $0.05. The firm had revenue of $151.74 million during the quarter, compared to the consensus estimate of $163.14 million. Prospect Capital had a net margin of 3.80% and a return on equity of 13.28%. On average, analysts forecast that Prospect Capital Corporation will post 0.38 EPS for the current year.

Prospect Capital Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, February 17th. Shareholders of record on Wednesday, January 27th will be paid a $0.0350 dividend. The ex-dividend date is Wednesday, January 27th. This represents a $0.42 dividend on an annualized basis and a yield of 28.8%. Prospect Capital’s payout ratio is currently -280.00%.

Hedge Funds Weigh In On Prospect Capital

Hedge funds and other institutional investors have recently bought and sold shares of the company. Private Management Group Inc. increased its stake in shares of Prospect Capital by 51.7% during the 2nd quarter. Private Management Group Inc. now owns 20,534,804 shares of the financial services provider’s stock valued at $47,435,000 after acquiring an additional 6,999,513 shares during the last quarter. Legal & General Group Plc purchased a new position in shares of Prospect Capital during the 2nd quarter worth about $9,336,000. Independent Financial Group LLC acquired a new stake in shares of Prospect Capital in the first quarter worth approximately $8,644,000. Van ECK Associates Corp boosted its position in shares of Prospect Capital by 32.7% in the second quarter. Van ECK Associates Corp now owns 9,685,724 shares of the financial services provider’s stock worth $22,374,000 after acquiring an additional 2,388,990 shares during the last quarter. Finally, Private Advisor Group LLC acquired a new stake in shares of Prospect Capital in the third quarter worth approximately $4,200,000. 9.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on PSEC shares. Zacks Research raised shares of Prospect Capital to a “hold” rating in a report on Monday, October 5th. Weiss Ratings downgraded shares of Prospect Capital from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, August 26th. Wall Street Zen lowered Prospect Capital from a “buy” rating to a “hold” rating in a report on Saturday, August 22nd. Finally, Wells Fargo & Company lowered their price target on Prospect Capital from $2.00 to $1.50 and set an “underweight” rating on the stock in a report on Friday, November 6th. One research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Sell” and a consensus price target of $1.50.

About Prospect Capital

Prospect Capital Corporation is a business development company that provides financing to middle-market businesses. Its investments include senior and subordinated debt, structured finance, and equity securities. The company works with businesses seeking capital for purposes such as growth, acquisitions, recapitalizations, and refinancing. Its portfolio spans a range of industries, with investments primarily in companies in the United States. Founded in 2004, Prospect Capital is externally managed by Prospect Capital Management L.P. and is headquartered in New York City.